|
Report Date : |
23.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
KAIFA TECHNOLOGY (H.K.) LTD. |
|
|
|
|
Registered Office : |
Room 2201, 22/F., Hong Kong Worsted Mills Industrial Building, 31-39 Wo Tong Tsui Street, Kwai Chung, New Territories |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
06.11.1984 |
|
|
|
|
Com. Reg. No.: |
09321170 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Exporter of Communication products, desk-top
computers, connectors, electronic products, hard disk drive heads, magnetic
heads, computers and peripherals, mother boards, tape heads, video heads,
audio products, CD heads, computer products, notebook computers, personal
computers, connectors, fax/modems, I/O controllers, optical disks/CD-ROMs,
tape drives, VGA card, sound card, I/O card, PCMCIA, internal and external
modems, etc. |
|
|
|
|
No. of Employees : |
150. (Hong Kong) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
Litigation : |
-- |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
Source
: CIA
KAIFA TECHNOLOGY
(H.K.) LTD.
ADDRESS: Room 2201, 22/F., Hong Kong Worsted Mills
Industrial Building, 31-39 Wo Tong Tsui Street, Kwai Chung, New Territories,
Hong Kong.
PHONE: 2425 8505, 2480 8561
FAX: 2480 4723
E-MAIL: kaifa@kaifa.com.hk.
President & Managing Director:
Mr. Tam Man Chi
Incorporated on: 6th November,
1984.
Organization: Private
Limited Company.
Capital: Nominal: US$500,000.00
Issued: US$500,000.00
Business Category: Trading in HDD (hard disk drive ) and HDD substrates.
Company Turnover: RMB19,495,293,500 Yuan (Year ended 31-12-2011)
Group Turnover: RMB95,024,261,000
Yuan (Year ended 31-12-2011)
Employees:
150. (Hong Kong staff)
Main Dealing Banker: Industrial & Commercial Bank of China (Asia) Ltd.,
Hong Kong.
Banking Relation: Good.
Registered Head Office & Workshop:-
Room 2201, 22/F., Hong Kong Worsted Mills Industrial Building, 31‑39 Wo
Tong Tsui Street, Kwai Chung, New Territories, Hong Kong.
Warehouse:-
Room 201, 2/F., Hong Kong Worsted Mills Industrial Building, 31‑39 Wo
Tong Tsui Street, Kwai Chung, New Territories, Hong Kong.
China Factory: Shenzhen SEZ,
China.
Holding Company:-
Shenzhen Kaifa Technology Co. Ltd., China.
Ultimate Holding Company:-
Great Wall Technology Co. Ltd., China.
Affiliated Companies:-
Great Wall Technology Group of Companies
BriVictory Display Technology (Labuan) Corporation, Malaysia.
CPT TPV Optical (Fujian) Co. Ltd., China.
Ebony Hong Kong Holding Ltd., Hong Kong.
Envision Industira de Productos Electronicos Ltda., Brasil.
Envision Peripherals Inc., USA.
ExcelStor Great Wall Technology Ltd., Cayman Islands.
ExcelStor Group Ltd., Cayman Islands.
ExcelStor Technology (Shenzhen) Ltd., China.
G&W Technologies Co. Ltd., Cayman Islands.
Guilin Changhai Technology Co. Ltd., China.
L&T Display Technology (Fujian) Ltd., China.
L&T Display Technology (Xiamen) Ltd., China.
MEXHK Services S.A. de C.V., Mexico.
MMD (Shanghai) Electronics Technology Co. Ltd., China.
MMD (Shanghai) Electronics Trading Co. Ltd., China.
MMD Hong Kong Holding Ltd., Hong Kong.
MMD Singapore Pte. Ltd., Singapore.
MMD-Monitors & Displays Czech Republic s.r.o, Czech Republic.
MMD-Monitors & Displays Nederland B.V., the Netherlands.
MMD-Monitors & Displays Taiwan Ltd., Taiwan.
O-Net Communications (Group) Ltd., Cayman Islands/Hong Kong.
P-Harmony Monitors (Taiwan) Ltd., Taiwan.
P-Harmony Monitors Netherlands B.V., the Netherlands.
PI International Holdings, British Virgin Islands.
PTC Consumer Electronics Co. Ltd., China.
PTC Technology Co. Ltd., China.
Shenzhen Great Wall Kemei Technology Co. Ltd., China.
Shenzhen Hai Liang Storage Products Co. Ltd., China.
Shenzhen Kaifa Magnetic Recording Co. Ltd., China.
Shenzhen Kaifa Magnetic Recording Joint-Stock Co. Ltd., China.
Shenzhen Kaifa O&M Technology Co. Ltd., China.
Shenzhen KTM Glass Substrate Co. Ltd., China.
Three Titans Technology (Xiamen) Co. Ltd., China.
Top Victory Australia Pty. Ltd., Australia.
Top Victory Electronics (Fujian) Co. Ltd., China.
Top Victory Electronics (Taiwan) Co. Ltd., Taiwan.
Top Victory Electronics de Mexico S.A. de C.V., Mexico.
Top Victory International Ltd., British Virgin Islands.
Top Victory Investments Ltd., Hong Kong.
TPV CIS Ltd., Russia.
TPV Display Polska Sp.z.o.o., Poland.
TPV Display Technology (China) Co. Ltd., China.
TPV Display Technology (Wuhan) Co. Ltd., China.
TPV Display Technology (Xiamen) Co. Ltd., China.
TPV do Brazil Industria de Componentes Electronicos Ltda., Brazil.
TPV Electronics (Fujian) Co. Ltd., China.
TPV Electronics (Fuzhou Bonded Zone) Trading Co. Ltd., China.
TPV Electronics (Wuhan) Co. Ltd., China.
TPV International (Netherlands) B.V., the Netherlands.
TPV International (USA) Inc., USA.
TPV Optronics Technology (Wuhan) Co. Ltd., China.
TPV Technology (Beijing) Co. Ltd., China.
TPV Technology (Ningbo) Co. Ltd., China.
TPV Technology (Qingdao) Co. Ltd., China.
TPV Technology (Suzhou) Co. Ltd., China.
TPV Technology Polska Sp.z.o.o., Poland.
TPV-Inventa (Fujian) Electronics Technology Co. Ltd., China.
TPV-Inventa Holding Ltd., Hong Kong.
TPV-Inventa Technology Co. Ltd., Taiwan.
Trend Smart America Ltd., US.
Trend Smart CE Mexico S. de R.L. de C.V., Mexico.
USA Kaifa Technology Inc., USA.
Wuhan Admiral Technology Ltd., China.
Xiamen Admiral Electronics Technology Co. Ltd., China.
etc.
09321170
0143241
President & Managing Director:
Mr. Tam Man Chi
Senior Vice President: Mr. Cheng
Kwok Wing, Philip
Nominal Share Capital: US$500,000.00 (Divided into 500,000 shares of
US$1.00 each)
Issued Share Capital: US$500,000.00
(As per registry dated 06-11-2012)
|
Name |
|
No. of shares |
|
TAM Man Chi |
|
1 |
|
Shenzhen Kaifa Technology Co. Ltd. Kaifa Complex, Caitian Road, Futian Industrial District, Shenzhen,
China. |
|
499,999 |
|
|
|
––––––– |
|
|
Total: |
500,000 ====== |
(As per registry dated 06-11-2012)
|
Name (Nationality) |
Address |
|
TAM Man Chi |
House 33, Windsor Park, Phase 2, 1 Ma Lok Path, Kau To Shan, Shatin,
New Territories, Hong Kong. |
|
CHENG Kwok Wing |
Flat A, 4/F., Block 2, Richmond Court, 1-3 Lok Yuen Path, Fo Tan,
Shatin, New Territories, Hong Kong. |
|
CHEN Zhu Jiang |
Room 803, Building 24, Qian Hai Garden, Nanshan District, Shenzhen,
China. |
CHENG Kwok Wing (As per registry
dated 06-11-2012)
The subject was incorporated on 6th November, 1984 as a private limited
liability company under the Hong Kong Companies Ordinance.
Originally the subject was registered under the name of Flymason Ltd.,
name changed to the present style was on 7th June, 1985.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer and
Exporter; China Project.
Lines: Communication products,
desk-top computers, connectors, electronic products, hard disk drive heads,
magnetic heads, computers and peripherals, mother boards, tape heads, video
heads, audio products, CD heads, computer products, notebook computers,
personal computers, connectors, fax/modems, I/O controllers, optical
disks/CD-ROMs, tape drives, VGA card, sound card, I/O card, PCMCIA, internal
and external modems, PC add-in card, pagers, cordless phones, feature phones,
help phones, security boxes, printing phones, caller ID display, answering
machines, interactive LED display, video CD player, magnetic stripe card,
magnetic stripe card reader, bar code card, smart credit, smart card reader,
contactless card, contactless card reader and equipments for smart card
production.
Trade Marks: “BERING”,
“CONNER”, “EXABYTE”, “HP”, “KAIFA”, “KMB”, “MITAC”, “MTRC”, “OCEAN”, “TEAC”,
“TEKCON”, “TIDALWAVE”, “VISTA” and “VOYAGER” brands.
Office & Workshop Space:
29,000 sq.ft. in Hong Kong.
China Factory Space: 270,000
sq.ft. in China.
Employees:-
Office Staff: 150. (Hong Kong)
Workers: Over 6,500. (China)
Commodities Imported:-
“EXABYTE”, “MTRC” and “KMB” tape heads – China.
“KAIFA” video heads – China.
“TEKCON” connectors – USA.
CD heads – USA.
Hard disk drive heads – China.
Magnetic heads – China, Japan and USA.
Markets: USA (main),
Europe, Japan, Singapore, Taiwan and Southeast Asia.
Company Turnover: RMB19,495,293,500 Yuan (Year ended 31-12-2011)
Group Turnover: RMB 23,682,455,000 Yuan (Year ended 31-12-2007)
RMB 22,528,185,000 Yuan (Year ended 31-12-2008)
RMB 37,085,314,000 Yuan (Year ended 31-12-2009)
RMB104,931,670,000 Yuan (Year
ended 31-12-2010)
RMB 95,024,261,000 Yuan (Year ended 31-12-2011)
RMB 46,717,824,000 Yuan (6 months ended 30-06-2011)
RMB 42,755,637,000 Yuan (6 months ended 30-06-2012)
Terms/Sales: As per contracted.
Terms/Buying: L/C, T/T, D/P, etc.
The Hong Kong Electronic Industries Association Ltd., Hong Kong.
Nominal Share Capital: US$500,000.00 (Divided into 500,000 shares of
US$1.00 each)
Issued Share Capital: US$500,000.00
Alternation of Capital:-
|
06-11-1984 |
paid up |
US$ 4.00 |
|
10-06-1985 |
paid up |
US$ 196.00 |
|
13-11-1987 |
paid up |
US$ 25,600.00 |
|
10-12-1991 |
paid up |
US$474,200.00 |
|
|
|
––––––––––––– |
|
Total: |
paid up |
US$500,000.00 ============ |
Increases of Nominal Capital:-
|
From |
US$ 200.00 |
to |
US$ 25,800.00 |
on |
18-05-1987 |
|
From |
US$25,800.00 |
to |
US$500,000.00 |
on |
02-12-1991 |
Indebtedness: US$612,758,894 & HK$65,000,000
(Total amount outstanding on all mortgages and charges as per last
Annual Return dated 06-11-2012)
Mortgage or Charge: (See attachment)
Company Total Asset: RMB4,522,706,600 Yuan (Year ended 31-12-2011)
Company Net Asset: RMB755,724,440 Yuan (Year ended 31-12-2011)
Company Net Profit: RMB53,744,900 Yuan (Year ended 31-12-2011)
Group Net Profit:-
RMB
840,603,000 Yuan (Year ended
31-12-2007)
RMB
623,816,000 Yuan (Year ended
31-12-2008)
RMB1,006,882,000 Yuan (Year ended
31-12-2009)
RMB1,739,725,000 Yuan (Year ended
31-12-2010)
RMB 747,880,000 Yuan (Year ended 31-12-2011)
RMB 484,831,000 Yuan (6 months ended 30-06-2011)
RMB 176,051,000 Yuan (6 months ended 30-06-2012)
Profit or Loss: Operation is
profitable.
Condition: Business is good.
Facilities: Making active use of
general banking facilities.
Payment: Met as contracted.
Commercial Morality: Good.
Bankers:-
Industrial & Commercial Bank of China (Asia) Ltd., Hong Kong.
Bank of China (Hong Kong) Ltd., Hong Kong.
BNP Paribas, Hong Kong Branch.
United Overseas Bank Ltd., Hong Kong Branch.
Standing: Good.
Kaifa Technology (H.K.) Ltd. is a wholly-owned subsidiary of Shenzhen
Kaifa Technology Co. Ltd. which is a China-based firm. The subject’s ultimate holding company Great
Wall Technology Co. Ltd. [GWT] is a Hong Kong-listed firm. The subject is trading in the products of
GWT.
The main associated company of the subject is Shenzhen Kaifa Technology
Co. Ltd. [Shenzhen Kaifa] which is a Shenzhen listed firm.
China Great Wall Computer Group Company [GWCG] was the sole promoter of
GWT. GWT was formally established in
Shenzhen, China on 20th March 1998 with a registered capital of RMB743,870,000
Yuan and was listed on The Stock Exchange of Hong Kong Ltd. bearing stock code
0074 on 5th August, 1999.
Currently, the registered capital of GWT is RMB1,197,742,000 Yuan. GWT was classified as “Information Technology
Stock” in May 2000 by the Hong Kong Hang Seng Index Services Ltd.
On 2nd August, 2005, the State-owned Assets Supervision and
Administration Commission of the State Council [SASAC] announced the
Notifications on the Restructuring of 6 Enterprises including China Electronics
Corporation [CEC], pursuant to which GWCG would be consolidated into CEC for
restructuring [Restructuring]. GWT was
notified by GWCG on 15th September, 2006 that the Restructuring was approved by
the State Administration For Industry and Commerce [SAIC] on 18th August,
2006. As a result of the Restructuring,
GWCG has become a wholly-owned subsidiary of CEC. CEC has become the ultimate controlling
shareholder of GWT through its control of 62.11% of GWCG. CEC is an enterprise directly administered by
SASAC. It is principally engaged in the
design and manufacturing of integrated circuits, software and integrated system
services and research, development and manufacturing of other communication
products
The business of GWT and its subsidiaries (hereinafter collective
referred to as the “Great Wall Technology Group”) covers development,
manufacture, sale and research and development of personal computer [PC] and
information terminal products, storage products, power supply products,
monitoring terminal, LCD TV products and EMS business.
For the year ended 31st December, 2011, the sales revenue of the Great
Wall Technology Group amounted to RMB95.0 billion Yuan, representing a decrease
of 9.4% (2010: RMB104.9 billion Yuan).
The Group’s profit before tax of RMB997 million and its sale revenue,
both lower than those for the previous year.
However, excluding the changes in foreign exchange rates and the
non-recurring gains and losses arising from the disposal of long-term equity
investment for the previous year, the Group’s fundamentals remained sound, with
stable and increased shipments and market share. In particular, after the high end guidelines
proposed by the Board, i.e. transforming from “manufactural Great Wall” to
“scientific Great Wall”, are consistently implemented, the development ideas
and industry chains have become clearer and the industry structure increasingly
tends to be rational.
During the six months ended 30th June 2012 (the “Reporting Period“), the
Group realised a turnover of approximately RMB42,756 million Yuan, representing
a decrease of 8.5% as compared to the corresponding period of previous
year. Profit after tax attributable to
the shareholders of the company amounted to approximately RMB20 million Yuan
during the Reporting Period as compared to the profit of approximately RMB124
million Yuan for the corresponding period of previous year. As global economy has just started recovering
gradually from severe deterioration, the pace of recovery in the Europe and the
United States, which are major markets of the Group, is slow, which impacted
the Group’s results.
In the first half of the year, TPV, a member of the Group, focused on
the optimization of customer mix of television business, and increased market
expansion for brand business. In the
first half of the year 2012, TPV and Koninklijke Philips Electronics N.V.
[Philips] established a joint venture company – TP Vision, which took over
Philips’ television business. From
January to June, sales revenue of RMB13.44 billion Yuan was recorded in
aggregate for television business, representing a comparative increase of 15%.
The Group’s magnetic head segment continued to grow rapidly. In recent years, as Great Wall Kaifa’s
manufacturing capacity and EMS electronics manufacturing service proficiency
have improved, the quality of its products and services is well recognized by
international customers. In the first
half of the year 2012, magnetic head segment of Great Wall Kaifa achieved a new
high growth rate over 50% compared to the previous year, and represented a
comparative increase of 16% in terms of sales revenue from January to June.
For the year ended 31st December, 2011, the principal operating revenue
of the subject amounted to RMB19.5 billion Yuan, net profit was RMB53.7 million
Yuan.
As at 30th June 2012, the number of employees of the Group was
approximately 62,000 (as at 31st December 2011: approximately 59,000).
The subject is fully supported by the Great Wall Technology Group.
On the whole, consider the subject good for normal business engagements.
Brief personnel profile
of the directors:-
Mr. TAM Man Chi, aged 64, is a director of China Great Wall
Computer (Shenzhen) Co. Ltd., the Chairman of Shenzhen Kaifa Technology Co.
Ltd., a director and President of the subject and Shenzhen Kaifa Magnetic
Recording Co. Ltd., the Co-chairman of the Board of O-Net Communications
(Group) Ltd., a Non-executive director and the Chairman of the remuneration
committee, a director of O-Net Communications (Group) Ltd., a company listed on
the Stock Exchange of Hong Kong Ltd., the President of O-Net Communications
(Shenzhen) Co. Ltd., a director of ExcelStor Group Ltd., ExcelStor Technology
(Shenzhen) Ltd. and Shenzhen Hai Liang Storage Products Co. Ltd. and the Vice
Chairman of Shenzhen KTM Glass Substrate Co. Ltd. Mr. Tam has been awarded “Shenzhen Honor
Citizen” in 1994, “National Friendship Award” in 2005 and “Excellent Worker
title of Guangdong Province” in 2006.
Mr. Tam has over 40 years’ of management experience in the international
electronic industry. Mr. Tam was
previously the Vice President of GWT, but he resigned from that position with
effect from 23rd April, 2003. Mr Tam has
been an Executive director of GWT since 1998.
Mr.CHENG Kwok Wing, born in November 1958. Nationality: Hong Kong China. Currently, Mr. Cheng is the director of the
subject, director of Suzhou Kaifa Technology Co. Ltd., director of Shenzhen Kaifa
Magnetic Recording Co. Ltd. etc. Mr.
Cheng is well educated with two postgraduate degrees of Master of Business
Administration and Master of Business Economics.
Mr. CHEN Zhu Jiang, born in September 1967. Nationality: China. Graduated from Tianjin University as a
Bachelor of Engineering, then from Jilin University as a Master of Management
Science, Mr. Chen is a senior executive of business. Mr. Chen currently holds the posts of
director of the subject, Board Chairman of Kaifa-O&M Components Co. Ltd.,
Board Chairman of Shenzhen Kaifa Micro-Electronics Co. Ltd., Board Chairman of
Suzhou Kaifa Technology Co. Ltd., director of O-Net Communications (Shenzhen)
Co. Ltd., director of Shenzhen Great Wall Kemei Technology Co. Ltd. Mr. Chen was the director and General Manager
of Shenzhen Huaming Computer Co. Ltd., Secretary to Chairman, Vice-Chief of
Office of China Great Wall Computer Shenzhen Company. He is a member of Shenzhen Youth League, and
Vice-Presidents of Shenzhen Entrepreneur Association and Shenzhen Computer
Industry Association. Mr. Chen first
served as Vice-President of Shenzhen Kaifa Technology Co. Ltd. in January 2005,
and was reappointed consecutively in June 2007.
Court case:-
|
Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
|
Oct. 2002 |
H4119 |
Levine Morton P. |
Kaifa Technology (H.K.) Ltd. |
Order |
Not stated |
|
Oct. 2002 |
H4120 |
Levine Morton P. |
Kaifa Technology (H.K.) Ltd. |
Order |
Not stated |
|
Date |
Particulars |
Amount |
|
18-12-1987 |
Instrument: Security Over Deposit Property: Fixed Deposit No. 314228 for US$53,500 Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong. [In liquidation] |
General banking facilities |
|
17-10-1988 |
Instrument: Security Over Deposit Property: Fixed Deposit No. 397904, 394905 & 397906 for US$9,440, US$27,120
& US$73,872 respectively Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong. [In liquidation] |
General banking facilities |
|
17-11-1988 |
Instrument: Security Over Deposit Property: Fixed Deposit No. 413725, 413726 & 413727 for US$7,000, US$27,540
& US$37,260 respectively Mortgagee: Bank of Credit & Commerce H.K. Ltd.,
Hong Kong. [In liquidation] |
General banking facilities |
|
22-11-1988 |
Instrument: Security Over Deposit Property: Fixed Deposit No. 413749 for US$148,851 Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong. [In liquidation] |
General banking facilities |
|
19-12-1988 |
Instrument: Security Over Deposit Property: Fixed Deposit No. 413847, 413848 & 413854 for US$2,725, US$3,630
& US$80,550 respectively Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong. [In liquidation] |
General banking facilities |
|
09-02-1990 |
Instrument: Security Over Deposit Property: Fixed Deposit No. 561496 for US$900,000 Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong. [In liquidation] |
General banking facilities |
|
28-06-1990 |
Instrument: Security Over Deposit Property: Fixed Deposit No. 640260 for US$137,700 Mortgagee: Bank of Credit & Commerce H.K.
Ltd., Hong Kong. [In liquidation] |
General banking facilities |
|
28-12-1990 |
Instrument: Assignment of Term Deposit Property: Deposit Receipt No. 163184 for HK$3,000,000 Mortgagee: Union Bank of Hong Kong Ltd.,
Hong Kong. [Now known as
Industrial & Commercial Bank of China (Asia) Ltd.] |
General banking facilities |
|
21-03-1991 |
Instrument: Letter of Charge and Set-off Property: Deposit No. HK-157159 Mortgagee: United Overseas Bank Ltd.,
Hong Kong. |
General banking facilities |
|
19-02-1993 |
Instrument: Security Over Deposit in Respect of
Obligations of the Depositor Property: Deposit Receipt No. 293118 for HK$20,000,000 under A/C No.
303-730005313 Mortgagee: Union Bank of Hong Kong Ltd., Hong Kong. [Now known as Industrial &
Commercial Bank of China (Asia) Ltd.] |
General banking facilities |
|
23-04-1993 |
Instrument: Security Over Deposit in Respect of
Obligations of a Third Party Property: Deposit Receipt No. 221078, 299231, 299239 & 309229 for
US$500,000, HK$3,000,000, US$900,000 & HK$20,000,000 respectively Mortgagee: Union Bank of Hong Kong Ltd.,
Hong Kong. [Now known as
Industrial & Commercial Bank of China (Asia) Ltd.] |
General banking facilities |
|
14-12-1993 |
Instrument: Security Over Deposit in Respect of
Obligations of a Third Party Property: Deposit Receipt No. 336211 for HK$2,800,000 under A/C No. 730005313 Mortgagee: Union Bank of Hong Kong Ltd.,
Hong Kong. [Now known as
Industrial & Commercial Bank of China (Asia) Ltd.] |
General banking facilities |
|
20-07-1998 |
Instrument: Deed of Charge on Savings Account and
Set-Off Property: Deposit of Saving A/C No. 031-356-9-210343-4 Mortgagee: Sin Hua Bank Ltd., Hong Kong
Branch. |
To secure all monies and liabilities |
|
11-01-1999 |
Instrument: Security Over Deposit in Respect of
Obligations of the Depositor Property: Fixed Deposit A/C No. 0360001921, Receipt No. 000004-001 for
US$800,000 and any renewal or extension thereof Mortgagee: Union Bank of Hong Kong Ltd.,
Hong Kong. [Now known as
Industrial & Commercial Bank of China (Asia) Ltd.] |
General banking facilities |
|
14-02-2000 |
Instrument: Deed of Charge on Deposit Property: A/C No. 00001-040483-141-04 Mortgagee: Banque Nationale de Paris,
Hong Kong Branch. |
The liabilities |
|
01-08-2005 |
Instrument: Deed of Charge Over Accounts Payable
executed by the Chargor in favour of the Chargee Property: 1) Fixed Charge: the
Chargor, as legal and beneficial owner of the Collateral, and as a continuing
security for the payment and discharge of the Obligations, charges in favour
of the Chargee by way of first fixed charge, the Accounts Payable 2) Assignment: the
Chargor, as legal and beneficial owner, assigns to the Chargee all of the
Chargor’s present and future rights, titles, claims, benefits and interests
in, to and under any and all present and future Accounts Payable 3) Floating Charge: the
Chargor, as legal and beneficial owner of the Accounts Payable, and as a
continuing security for the payment and discharge of the Obligations, charges
and agrees to charge in favour of the Chargee all present and future Accounts
Payable by way of first floating charge Mortgagee: Sony International (Hong Kong) Ltd.,
Hong Kong. [Chargee] |
Any and all of such payments, liabilities, indebtedness, obligations,
fees, costs and expenses herein called the “Obligations” |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.51 |
|
|
1 |
Rs.84.85 |
|
Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.